NZD/USD – 4H – SELLAdditionally a ‘Rising Wedge Chart Pattern’ chart formation is existing. The chart forms ‘Rising Wedge Chart Pattern’. this is a bearish pattern signal. The currency pair is likely to go down.
The combination New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline down.
A bearish trend down to the next support level at 0.58826 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.60875 could be enabled.
Consider stop-loss settings accordingly.
Additionally a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.60875 |
| Current Price | 0.60616 |
| Next Low | 0.58826 |
| 2nd Low | 0.58602 |
| 3rd Low | 0.58462 |
0.60875 – 0.60710 – 0.60799 – 0.58826 – 0.59948 – 0.60061
Trading Signals: FOREX – NZD – NZD/USD – USD – – Rising Wedge Chart Pattern